The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of England base rate to 4.25% from 4%.

HMRC interest rates are linked to the Bank of England base rate.

As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase.

These changes will come into effect on:

  • 3 April 2023 for quarterly instalment payments
  • 13 April 2023 for non-quarterly instalments payments

For further information please select the following link HMRC late payment interest rates to be revised after Bank of England increases base rate - GOV.UK ( 

Managing your finances

A vital part of running a successful business is looking after your finances. For further information please select the following link Managing your finances | Business Wales (

Understanding your finances

On completion of this course Course: Understanding Your Finances ( you will be able to:

  • Recognise the different types of costs in running your business.
  • Identify simple mechanisms for controlling fixed and variable costs.
  • Calculate the costs of producing your product or service.

Unlock even more support from Business Wales. Sign up for your free Sign on Cymru (SOC) account today! 


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